LSA15: How Mobile Commerce Will Change Local
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Mobile commerce is transforming the local advertising market, valued at $115 billion, as consumers increasingly use on-demand apps for local services on a daily, monthly, or annual basis. This emergence of the local on-demand economy (LODE) presents an opportunity to build apps that facilitate task completion for infrequently used categories like home services, pet services, and medical appointments. To succeed, LODE platforms and apps must focus on quick conversion rates from leads to customers through click-to-book and payment capabilities, a consistent user experience across devices, and facilitating the completion of tasks.
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LSA15: How Mobile Commerce Will Change Local
- 1. How Mobile Commerce Will Change Local: The Emergence of The Local On Demand Economy (LODE)
- 2. Pingup, a service of Getabl Inc. © 2015 Proprietary and Confidential Tectonic Shift in Local Advertising Market ($115B) The Big Four Doubling Down on Local Ad Food Transportation Others… Pets $6.4B $351M* $122M Medical & Dental Home Services $230M Others… Others… Health & Beauty $531M $114M Venture Capital Invested
- 3. Pingup, a service of Getabl Inc. © 2015 Proprietary and Confidential Greenfield: Task Completion for Lower Frequency Categories Takeout Food Local Transport Sit Down Food Health & Beauty Pet Services Home Services Auto Services Medical & Dental Daily Frequency Monthly Frequency Annual+ ConsumerAdoption FREQUENT USE “TOOHBRUSH APPS” SEMI-FREQUENT USE OCCASIONAL USE FREQUENCY OF USE COST TO ACQUIRE
- 4. Pingup, a service of Getabl Inc. © 2015 Proprietary and Confidential Capture the LODE Opportunity Leads are Just Leads Click to Book & Payments = Actual Customer 2. Design for Quick Conversion1. Feature Parity Across Devices 3. Add Task Completion “STICKY”
- 5. Pingup, a service of Getabl Inc. © 2015 Proprietary and Confidential LODE Leverage Mobile Commerce APIs TASK COMPLETION INTEGRATIONS reviews Ads/Deals RESERVE A TABLE EXISTING SURFACE AREA LODE CUSTOMERS Search Maps LISTINGS Book an Appointment APIs ORDER FOOD BUY NOW
Editor's Notes
- This is money VC $ was raised into LS - different from TAM, do we show both? previous title: Tectonic Shift In Local – $6B Invested in LODE Since 201?*
- Charles needs to articulate that pubs are already competing in food/ordering Not only is this Greenfield but these tasks yield higher value per order. So while frequency goes down, value of service goes up. Also, simply expands portfolio of monetization across new task completion that consumers want. Greenfield is in the later stages of this chart? Think about tomorrow adding to long tail categories because these are harder for an app to come disintermediate Focus on Task Completion Across Occasional-use Verticals
- To Remain a Popular Destination, Think Local On Demand (?) For middle column, measured by how quickly you get off the app. Three Obelisk approach? Implement in a cohesive in-context way in order to keep your customer
- API Ecosystem Powering Local Search & Commerce Feature parity, disintermediation, need to add these on top of your core surface areas. Add or fall behind. Surface areas we think about relative to UX. We are API evangelists, the ecosystem to pull this all together is derived by a lot of different partners and their APIs. Pingup is obviously booking, other key players. Cohesive UX for your customers. Players and content that create a winning solution. Local Search Will Thrive via API-first Approach This matures thru cooperating APIs with a subtext of aggregation? Nobody can develop alone, an ecosystem (add in examples? reference companies in food, zocdoc